AE Wealth Management LLC bought a new stake in shares of Macy’s Inc (NYSE:M) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 43,667 shares of the company’s stock, valued at approximately $953,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in M. Prudential Financial Inc. increased its position in shares of Macy’s by 75.3% during the 3rd quarter. Prudential Financial Inc. now owns 5,013,391 shares of the company’s stock valued at $109,392,000 after purchasing an additional 2,153,110 shares during the last quarter. Alps Advisors Inc. bought a new position in Macy’s in the 3rd quarter valued at $46,431,000. Discovery Capital Management LLC CT grew its position in Macy’s by 239.0% in the 2nd quarter. Discovery Capital Management LLC CT now owns 2,871,297 shares of the company’s stock valued at $66,729,000 after acquiring an additional 2,024,297 shares during the last quarter. Contrarius Investment Management Ltd grew its position in Macy’s by 827.4% in the 3rd quarter. Contrarius Investment Management Ltd now owns 1,575,547 shares of the company’s stock valued at $34,378,000 after acquiring an additional 1,405,656 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Macy’s by 26.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,323,131 shares of the company’s stock valued at $123,703,000 after acquiring an additional 1,117,903 shares during the last quarter. 83.82% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Macy’s Inc (M) traded down $0.33 during midday trading on Tuesday, hitting $20.47. The company had a trading volume of 3,922,714 shares, compared to its average volume of 9,831,168. The company has a quick ratio of 0.19, a current ratio of 1.29 and a debt-to-equity ratio of 1.49. The stock has a market cap of $6,330.00, a PE ratio of 6.85, a P/E/G ratio of 0.71 and a beta of 0.86. Macy’s Inc has a 1 year low of $17.41 and a 1 year high of $45.41.
Macy’s (NYSE:M) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.04. The firm had revenue of $5.28 billion during the quarter, compared to analysts’ expectations of $5.31 billion. Macy’s had a return on equity of 21.20% and a net margin of 2.83%. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. analysts predict that Macy’s Inc will post 3.39 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be paid a dividend of $0.3775 per share. This represents a $1.51 dividend on an annualized basis and a dividend yield of 7.38%. The ex-dividend date of this dividend is Thursday, December 14th. Macy’s’s dividend payout ratio (DPR) is currently 66.52%.
In other Macy’s news, Director John A. Bryant purchased 9,825 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was bought at an average cost of $20.32 per share, for a total transaction of $199,644.00. Following the completion of the purchase, the director now owns 9,825 shares in the company, valued at approximately $199,644. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.40% of the company’s stock.
Several equities analysts have commented on the company. Canaccord Genuity reaffirmed a “buy” rating and issued a $9.50 price objective on shares of Macy’s in a research report on Thursday, November 16th. BMO Capital Markets set a $35.00 price objective on Macy’s and gave the company a “buy” rating in a research report on Sunday, November 12th. Zacks Investment Research downgraded Macy’s from a “hold” rating to a “sell” rating in a research report on Wednesday, November 8th. Citigroup Inc. downgraded Macy’s from a “neutral” rating to a “sell” rating and cut their price objective for the company from $21.00 to $16.00 in a research report on Monday, October 30th. Finally, Royal Bank Of Canada set a $21.00 price objective on Macy’s and gave the company a “sector perform” rating in a research report on Friday, October 20th. Three research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Macy’s presently has an average rating of “Hold” and a consensus price target of $25.37.
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Macy’s Company Profile
Macy’s, Inc is an omnichannel retail company operating stores, Websites and mobile applications under various brands, such as Macy’s, Bloomingdale’s and Bluemercury. The Company sells a range of merchandise, including apparel and accessories (men’s, women’s and children’s), cosmetics, home furnishings and other consumer goods.
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